[Funding alert] Luxury car rental startup Hype Luxury lifts round of pre-series A from Harshil Mathur, MarsShot Ventures led by Shashank Kumar
Luxury car rental startup headquartered in Bangalore Hype Luxe announced in a statement today that it had raised an undisclosed amount in Financing of the pre-series A of Razorpay co-founders Harshil Mathur and Shashank Kumarthe new start-up seed fund from MarsShot Ventures.
Speaking of funding, Raghav Belavadi, Founder and CEO of Hype Luxury Mobility, noted:
âEverything Hype does is on the backbone of the strong and secure payment gateway that Razorpay supports. Harshil enjoys driving luxury cars. In this way, we both share a lot of respect and admiration. mutual. I bet on the invaluable network that they embark on our phase of growth, especially in our international expansion. “
MarsShot Ventures was recently incorporated and has made dozens of investments in the technology sector. Investments were mainly in the Seeds and pre-series-A investment rounds.
With the investment in Hype Luxury, MarsShot has for the first time ventured into a luxury startup that has a large premium customer base in India, the statement said.
Hype claims to be the largest luxury car rental company in India and spans 23 cities in India. He recently partnered with Exotic corporate cars, one of America’s leading car rental companies. With this partnership, Hype has extended its operations to UK, offering world-class luxury cars at competitive prices.
The startup added that the pre-series A fund will be used as part of build a global luxury brand in an international arena. He also claimed to have seen more than 100 percent growth post-COVID-19, going through a million dollars in sales.
Hype started in 2017 after founder Raghav Belavadi was faced with a situation where he wanted to hire a luxury car for his parents’ wedding anniversary, but found the process difficult due to rising prices, multiple negotiations with different suppliers , etc.
“After going through all this pain, I received a different car than what I asked for,” Raghav said. Your story in a previous interview. The chaotic and unorganized luxury car rental market gave him the idea that the problem could be solved with technology, giving birth to Hype.